The secret is out: both words are synonyms of each other – i.e. they mean the same thing. Most of the time. We are talking about one unit that that is part of a larger building. Why do they both exist if they mean the same? To answer this we need to go back to …
12 Signs You’re Overpaying For A Home The feeling of buying a home is wonderful. But pay too much and your pride will soon turn to regret. Nobody wants to be paying off a sum for the next 30 years to find out the house is worth less than what you paid for it. Make …
No one wants to leave a home viewing prematurely. You spend time researching a place and invest time in making a trip to the home. There’s also the very awkward fact that the estate agent probably cancelled all of their personal commitments to get here – hoping you’ll make an offer so that their commission …
[First Time Buyer Edition] Funding a home, mortgages, borrowing, loans. People panic when they hear these buzzwords. Confusion and stress can set in. And that’s normal given that most have not gone through a home buying process before. We’re here to help and we’ve broken down all of the main parts you …
The property is Sold STC – what does this mean? Estate agents love to use jargon. Sometimes they try to describe things to you before you make an offer like OIEO or OIRO. Other times they want to communicate something else later on. Sold STC is a very common phrase you will see stuck …
There are few words that scare home buyers more than the dreaded G word (Gazumping). The Gazumping Situation Picture this: you’ve made an offer on a property and had it accepted. Great news! The solicitor has finished the work and there are no outstanding issues. The mortgage has come back approved with no objections from …
Sellers usually try a range of tactics to get the highest possible price from buyers, and this includes putting an OIRO tag on a home. If the market is competitive (and in the UK it usually is) then don’t be surprised if sellers want to hold out for the best price. When this happens – …
You’ve finally found the house that ticks all of your boxes and matches your budget. Great! After instructing a solicitor to start on the mountain of paperwork, they point out to you an interesting phrase in the lease. “Your house is on an unadopted road” Many home buyers will take note of this, file away …
You’ve managed to find your dream property for your first home purchase. But the brochure the agent handed to you has a word next to the price tag – “OIEO”. It’s important to recognise what OIEO means and how it can affect the offer you put down on the home. What does OIEO Mean? OIEO …
Budgeting for your first home is never easy, and service charges don’t make this any easier. Service charges can quickly become very expensive for certain properties. And once you’ve bought a property, you are required to pay the service charges every year. Many first time buyers concentrate solely on the house price and overlook the …
